Applied Materials decline after $710M revenue hit from US export restrictions

Core Viewpoint - Applied Materials, a leading supplier of semiconductor manufacturing equipment, is facing a significant financial setback due to new US export restrictions that limit the supply of chipmaking tools to China [1] Company Summary - Applied Materials is one of the largest suppliers in the semiconductor manufacturing equipment industry [1] - The company is preparing for a financial impact as a result of the tightening export restrictions imposed by the US government [1] Industry Summary - The semiconductor manufacturing equipment industry is experiencing challenges due to geopolitical tensions and regulatory changes affecting trade with China [1] - New US export restrictions are likely to disrupt the supply chain and impact revenue for companies involved in semiconductor manufacturing [1]